New Cars Versus Used: an Insurance Comparison

New and Used Cars Insurance in San Diego, CA

Whether you are buying a new or used car, cost is likely important. However, the amount you pay is not limited to the vehicle itself. It also extends to an insurance policy. What many buyers do not realize is that your San Diego car insurance rates can be affected by dozens of factors, including your age and gender, your driving record, your annual mileage, your credit, and the type and age of the vehicle. For instance, used cars tend to have lower insurance rates because they have a lower value and they also tend to be cheaper to repair.┬áHere are a few other things to consider. Many people assume new cars always have higher insurance rates, but new cars often have more safety features that can lower your rate. For example, anti-lock brakes, daytime running lights, blind spot detection, rearview cameras, and anti-theft systems can also earn you a discount on your insurance premium. If you have a used car, your rate may be higher if you do not have safety equipment. However, some San Diego cheap car insurance policies may offer a discount for adding safety features to a used car. Another important factor that determines your car insurance rate is the risk of your car being stolen. New cars are more desirable, but they are usually equipped with anti-theft devices and GPS tracking. Thieves sometimes target older used cars because they are less likely to have tracking and anti-theft systems. In fact, the National Insurance Crime Bureau found that 7 of the 10 most frequently stolen vehicles in 2010 had a model year between 1991 and 1999. If you buy a new car with a loan or lease, you will probably be required to carry comprehensive and collision coverage. Lenders require these coverage options to protect their investment. Comprehensive coverage is a type of insurance that covers repairs not related to collisions, such as vandalism, theft, hitting an animal, and natural disasters. While comprehensive and collision coverage can increase your insurance rates, it also gives you better protection and pays for repairs. With a used car that is owned outright, you have the option of carrying only liability, which covers damage and injury to other people and drivers. Liability coverage is cheaper than insuring a car with liability, collision, and comprehensive coverage combined, but it won’t pay for any damages to your vehicle. Every car has different qualities that can potentially affect your insurance rates. Get in touch with the insurance experts at American Tri-Star to find the right policy to suit your needs. In addition to auto insurance, we also offer affordable motorcycle and RV insurance San Diego drivers trust. Call 619-272-2100 today for a free quote.